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Harbor Small Cap Value Fund (HASCX)

Please note that the Fund is now closed to new investors effective June 1, 2021. Please refer to the Fund's prospectus for additional information.

Overview
Performance
Holdings
Investment Team
Documents
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Class

Overview

Investment Team
Earnest Partners

Current Price

Current Price

As of 6/2/2023

$38.19

Price (NAV)

$1.42

NAV Daily Change ($)

3.86%

NAV Daily Change (%)

6.53%

NAV YTD Return

Fund Facts

As of 5/31/2023

12/14/2001

Inception Date

0.88

Net Expense Ratio

0.88

Gross Expense Ratio

$1,448.078

Total Net Assets (million)
As of 5/31/2023

HASCX

Ticker

2022

Fund Number

Institutional Class

Share Class

Top Ten Holdings

As of 3/31/2023

Company Name [Ticker]

% of Net Assets

Casella Waste Systems Inc. Class A[CWST]

3.4

Franklin Electric Co. Inc.[FELE]

2.9

Houlihan Lokey Inc. Class A[HLI]

2.8

CONMED Corporation[CNMD]

2.7

Hexcel Corporation[HXL]

2.6

Scotts Miracle-Gro Company Class A[SMG]

2.5

SPX Technologies Inc.[SPXC]

2.3

Darling Ingredients Inc[DAR]

2.3

Timken Company[TKR]

2.2

Parsons Corporation[PSN]

2.2

% of Total Holdings:

25.9%

Morningstar Medalist Rating™

Morningstar Silver
Analyst-Driven %
100
Data Coverage %
100
As of 7/15/2022
left quote

“Better judgement borne of deep hands on experience in a variety of industries allows us to see what others miss.”

Paul Viera

CEO and Partner, Earnest Partners LLC

right quote

Performance

Total Returns

Month-End

Fund Name

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

10 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Small Cap Value Fund

-8.35%

1.37%

-1.19%

12.27%

4.62%

8.88%

9.52%

0.88%

0.88%

Russell 2000® Value Index

-11.27%

-5.04%

-11.50%

13.60%

2.09%

6.43%

7.70%

--

--

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.

The Russell 2000® Value Index is an unmanaged index representing the smallest 2000 stocks with the lowest price-to-book ratio and future earnings. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell 2000® Value Index and Russell® are trademarks of Frank Russell Company.

Price History

Chart

Record Date

Reinvest Date

Payable Date

Return of Capital Non Taxable Dist

Ordinary Income

Total Capital Gains

Short Term Capital Gains

Mid Term Capital Gains

Long Term Capital Gains

Total Distribution

Foreign Tax Credit

Reinvest Price

12/16/2022

12/19/2022

12/19/2022

0.00000

0.12022

2.47978

0.03839

0.00000

2.44139

2.60000

0.00000

35.13

12/17/2021

12/20/2021

12/20/2021

0.00000

0.04232

2.36015

--

0.00000

2.36015

2.40247

0.00000

39.90

12/16/2020

12/17/2020

12/17/2020

0.00000

0.17061

0.00000

0.00000

0.00000

0.00000

0.17061

0.00000

39.22

12/13/2019

12/16/2019

12/16/2019

0.00000

0.17500

0.31673

0.00000

0.00000

0.31673

0.49173

0.00000

34.63

12/14/2018

12/17/2018

12/17/2018

0.00000

0.12283

2.94909

0.11826

0.00000

2.83083

3.07192

0.00000

27.81

12/15/2017

12/18/2017

12/18/2017

0.00000

0.03062

0.68749

0.00000

0.00000

0.68749

0.71811

0.00000

36.37

12/16/2016

12/19/2016

12/19/2016

0.00000

0.11050

0.00000

0.00000

0.00000

0.00000

0.11050

0.00000

30.72

12/16/2015

12/17/2015

12/17/2015

0.00000

0.09352

0.89173

0.10478

0.00000

0.78695

0.98525

0.00000

24.80

12/17/2014

12/18/2014

12/18/2014

0.00000

0.05903

0.91139

0.03354

0.00000

0.87785

0.97042

0.00000

26.39

12/16/2013

12/17/2013

12/17/2013

0.00000

0.04851

4.41125

0.37563

0.00000

4.03562

4.45976

0.00000

24.70

12/14/2012

12/17/2012

12/17/2012

0.00000

0.21642

0.26841

0.00000

0.00000

0.26841

0.48483

0.00000

21.99

12/15/2011

12/16/2011

12/16/2011

0.00000

0.05366

0.00000

0.00000

0.00000

0.00000

0.05366

0.00000

19.12

12/16/2010

12/17/2010

12/17/2010

0.00000

0.07563

0.00000

0.00000

0.00000

0.00000

0.07563

0.00000

19.47

12/17/2009

12/18/2009

12/18/2009

0.00000

0.07112

0.00000

0.00000

0.00000

0.00000

0.07112

0.00000

15.93

12/18/2008

12/19/2008

12/19/2008

0.00000

0.05479

0.03603

0.00000

0.00000

0.03603

0.09082

0.00000

12.80

12/18/2007

12/19/2007

12/19/2007

0.00000

0.09535

1.11030

0.00000

0.00000

1.11030

1.20565

0.00000

19.47

12/18/2006

12/19/2006

12/19/2006

0.00000

0.01961

0.48505

0.00000

0.00000

0.48505

0.50466

0.00000

21.49

12/19/2005

12/20/2005

12/20/2005

0.00000

0.02027

0.30693

0.03399

0.00000

0.27294

0.32720

0.00000

19.81

12/29/2004

12/30/2004

12/30/2004

0.00000

0.00000

0.09415

0.00000

0.00000

0.09415

0.09415

0.00000

18.26

12/29/2003

12/30/2003

12/30/2003

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

15.01

12/27/2002

12/30/2002

12/30/2002

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

10.14

12/26/2001

12/27/2001

12/28/2001

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

0.00000

10.76

Holdings

Portfolio Characteristics

As of 3/31/2023

59

Number of Holdings

3949.7

Wtd Avg Market Cap ($Mil)

2.45

Price/Book Ratio

21.4

Adjusted Trailing P/E Ratio

12.6

% EPS Growth - Past 3 Yr

11.03

Return on Equity (%)

18.6

Forecasted P/E Ratio

Top Ten Holdings

As of 3/31/2023

Company Name [Ticker]

% of Net Assets

Casella Waste Systems Inc. Class A[CWST]

3.4

Franklin Electric Co. Inc.[FELE]

2.9

Houlihan Lokey Inc. Class A[HLI]

2.8

CONMED Corporation[CNMD]

2.7

Hexcel Corporation[HXL]

2.6

Scotts Miracle-Gro Company Class A[SMG]

2.5

SPX Technologies Inc.[SPXC]

2.3

Darling Ingredients Inc[DAR]

2.3

Timken Company[TKR]

2.2

Parsons Corporation[PSN]

2.2

% of Total Holdings:

25.9%

This information should not be considered as a recommendation to purchase or sell a particular security. The weightings, holdings, industry, sector, countries mentioned may change at any time and may not represent current or future investments.

As of 3/31/2023

Company Name [Ticker]

Country

Shares (000's)

Current Price ($)

Market Value ($000's)

% of Net Assets

Casella Waste Systems Inc. Class A [CWST]

897

82.66

74,108

3.4

Franklin Electric Co. Inc. [FELE]

667

94.10

62,774

2.9

Houlihan Lokey Inc. Class A [HLI]

699

87.49

61,175

2.8

CONMED Corporation [CNMD]

564

103.86

58,562

2.7

Hexcel Corporation [HXL]

811

68.25

55,317

2.6

Scotts Miracle-Gro Company Class A [SMG]

771

69.74

53,741

2.5

SPX Technologies Inc. [SPXC]

707

70.58

49,918

2.3

Darling Ingredients Inc [DAR]

844

58.40

49,310

2.3

Timken Company [TKR]

587

81.72

48,000

2.2

Parsons Corporation [PSN]

1,052

44.74

47,071

2.2

FormFactor Inc. [FORM]

1,470

31.85

46,806

2.2

Cabot Corporation [CBT]

596

76.64

45,675

2.1

Littelfuse Inc. [LFUS]

170

268.09

45,518

2.1

AAR CORP. [AIR]

831

54.55

45,308

2.1

Reinsurance Group of America Incorporated [RGA]

338

132.76

44,853

2.1

Meritage Homes Corporation [MTH]

379

116.76

44,270

2.0

Cracker Barrel Old Country Store Inc. [CBRL]

384

113.60

43,658

2.0

Flowserve Corporation [FLS]

1,284

34.00

43,647

2.0

Moog Inc. Class A [MOG.A]

423

100.75

42,592

2.0

FirstCash Holdings Inc. [FCFS]

438

95.37

41,794

1.9

GATX Corporation [GATX]

372

110.02

40,957

1.9

Albany International Corp. Class A [AIN]

456

89.36

40,749

1.9

Integer Holdings Corporation [ITGR]

522

77.50

40,453

1.9

STAG Industrial Inc. [STAG]

1,171

33.82

39,594

1.8

SouthState Corporation [SSB]

548

71.26

39,036

1.8

Diodes Incorporated [DIOD]

415

92.76

38,469

1.8

EnerSys [ENS]

441

86.88

38,323

1.8

Enterprise Financial Services Corp [EFSC]

843

44.59

37,573

1.7

CTS Corporation [CTS]

747

49.46

36,967

1.7

Cheesecake Factory Incorporated [CAKE]

1,039

35.05

36,420

1.7

Box Inc. Class A [BOX]

1,339

26.79

35,866

1.7

Advanced Energy Industries Inc. [AEIS]

360

98.00

35,302

1.6

Envestnet Inc. [ENV]

601

58.67

35,275

1.6

Plexus Corp. [PLXS]

341

97.57

33,244

1.5

First Merchants Corporation [FRME]

1,001

32.95

32,981

1.5

Oceaneering International Inc. [OII]

1,817

17.63

32,037

1.5

Pediatrix Medical Group Inc. [MD]

2,146

14.91

32,003

1.5

Heartland Financial USA Inc. [HTLF]

832

38.36

31,927

1.5

United Community Banks Inc. [UCBI]

1,135

28.12

31,905

1.5

Trustmark Corporation [TRMK]

1,256

24.70

31,028

1.4

Stifel Financial Corp. [SF]

515

59.09

30,403

1.4

United Bankshares Inc. [UBSI]

860

35.20

30,266

1.4

Methode Electronics Inc. [MEI]

679

43.88

29,776

1.4

Amkor Technology Inc. [AMKR]

1,047

26.02

27,238

1.3

Corporate Office Properties Trust [OFC]

1,134

23.71

26,887

1.2

Ryder System Inc. [R]

298

89.24

26,567

1.2

Helen of Troy Limited [HELE]

258

95.17

24,565

1.1

Wolverine World Wide Inc. [WWW]

1,440

17.05

24,548

1.1

Entegris Inc. [ENTG]

270

82.01

22,156

1.0

Sabre Corp. [SABR]

5,122

4.29

21,972

1.0

Catalent Inc [CTLT]

330

65.71

21,673

1.0

Pebblebrook Hotel Trust [PEB]

1,489

14.04

20,907

1.0

Archrock Inc. [AROC]

2,113

9.77

20,640

1.0

Horace Mann Educators Corporation [HMN]

541

33.48

18,110

0.8

Steelcase Inc. Class A [SCS]

2,059

8.42

17,339

0.8

United Fire Group Inc. [UFCS]

455

26.55

12,077

0.6

DMC Global Inc. [BOOM]

456

21.97

10,019

0.5

Core Laboratories Inc. [CLB]

329

22.05

7,247

0.3

Total

--

--

--

2,116,592

97.8

Cash and Other Assets Less Liabilities

--

--

--

--

2.2

Total Net Assets

--

--

--

--

100%

As of 3/31/2023

Small Cap Value Fund (HASCX)

Russell 2000® Value Index

-

Industrials

HASCX: 29.2%

Benchmark: 14.0%

-

Financials

HASCX: 20.4%

Benchmark: 26.3%

-

Information Technology

HASCX: 17.8%

Benchmark: 5.9%

-

Consumer Discretionary

HASCX: 9.0%

Benchmark: 11.2%

-

Health Care

HASCX: 7.0%

Benchmark: 9.8%

-

Materials

HASCX: 4.6%

Benchmark: 4.5%

-

Real Estate

HASCX: 4.0%

Benchmark: 10.8%

-

Energy

HASCX: 3.2%

Benchmark: 6.5%

-

Consumer Staples

HASCX: 2.3%

Benchmark: 2.8%

-

Communication Services

HASCX: 0.0%

Benchmark: 3.0%

-

Utilities

HASCX: 0.0%

Benchmark: 5.1%

HASCX: Small Cap Value Fund

Benchmark: Russell 2000® Value Index

As of 3/31/2023

Economic Sector

Small Cap Value Fund %

Russell 2000® Value Index %

Materials

Economic sector icon

30.0

7.4

Health Care

Economic sector icon

19.4

-6.2

Information Technology

Economic sector icon

10.7

15.3

Industrials

Economic sector icon

9.6

6.5

Consumer Discretionary

Economic sector icon

9.4

10.5

Energy

Economic sector icon

6.0

0.4

Real Estate

Economic sector icon

1.1

0.5

Utilities

Economic sector icon

0.0

0.6

Communication Services

Economic sector icon

0.0

1.6

Consumer Staples

Economic sector icon

-6.7

1.2

Financials

Economic sector icon

-8.9

-10.9

Investment Team


Earnest Partners

EARNEST Partners LLC manages assets for clients around the world, including corporate pension plans, state and municipal pension plans, jointly-trusteed plans, foundations and endowments. They also manage portfolios for high net worth individuals through the platforms of some of the largest broker dealers in the world. EARNEST Partners is a fundamental, bottom-up investor; their investment decisions focus on the merits of individual securities. 

The firm believes the best investment decisions are thoughtfully distilled from a pool of expertise, and they are pleased to offer their clients a team with the experience and the network to assess the relevant geopolitical issues, demographic trends and cultural considerations impacting their investments. They believe that identifying the most attractive investment opportunities takes a global focus.

Documents

Name

Date

From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.

As a result of changing market conditions, total net asset levels, expenses and other factors may change at any time during the current fiscal period and may differ from those shown.

There is no guarantee that the investment objective of the Fund will be achieved. Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. Stocks of small cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies.

Weighted Average Market Capitalization: The average size of the companies in a portfolio or index as measured by the market value of outstanding shares.

Price/Book: The price-to-book (P/B) ratio evaluates a firm's market value relative to its book value.

Adjusted Trailing P/E Ratio: The Adjusted Trailing P/E (Price/Earnings) Ratio is the closing stock price divided by the sum of the last 12 months actual EPS.

% EPS Growth – Past 3 year: Earnings per share refers to the bottom-line measure of a company’s profitability defined as net income divided by the number of outstanding shares.

Return on Equity: Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity.

Forecasted P/E Ratio: a measure of the P/E (price-to-earnings) ratio using forecasted earnings for the P/E calculation.

The Morningstar Medalist Ratings are shown for funds that have received a rating of Gold, Silver, or Bronze The funds shown without Medalist Ratings may not have received a Medalist Rating or may have received lower ratings.

The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures/.

The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.

©2023 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

2906416 

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Investing involves risk and the potential loss of capital.

Investors should carefully consider the investment objectives, risks, charges and expenses of a fund before investing. To obtain a summary prospectus or prospectus for this and other information, click here or call 800-422-1050. Read it carefully before investing.

All trademarks or product names mentioned herein are the property of their respective owners. Copyright © 2023 Harbor Capital Advisors, Inc. All rights reserved.